WFB: Gun maker pledges ‘max capacity’ production that could lead to more jobs, shifts for workers.
One of the nation’s largest gun makers is ramping up production after a record-breaking first quarter in 2020.
Smith & Wesson, one of only two publicly traded gun manufacturers in America, reported a 140 percent year-over-year jump in gun sales between the beginning of May and the end of July. The company moved 584,000 guns in that period, an unprecedented demand that caused inventories to fall. That’s why the company has doubled down on its efforts to manufacture more guns in order to meet continuing demand.
“As we’ve seen before during these surge periods, these results reflect that despite our record numbers in market share growth, consumer demand for our products during the quarter still exceeded our internal manufacturing capacity levels, ” Mark Smith, Smith & Wesson president and CEO, told investors in a call on Thursday. “We’re continuing to ramp up…. We’re going to go to maximum capacity.”
The move comes as Americans have rushed to gun stores at a record pace since March. The first eight months of 2020 have already seen more gun sales than all of 2019. Smith echoed remarks made in July by the CEO of Sturm, Ruger & Co., the other publicly traded American gun company, when he said demand was beyond anything he had previously encountered. read more
Wise move. Bass Pro Shops seemed to have single-digit handgun inventory the last time I was there (a week ago).
I’ll have a nice, plain and simple Model 69, please. Oh, and a case of ammo, too.
A day late as usual. The election is in 60 days. If Trump wins in a landslide the gun market will go back into hibernation.
Is elasticity of demand a factor? As price goes down demand goes up.
Dirty Harry
https://youtu.be/8Xjr2hnOHiM
@BB I am hoping so, I want to get a couple more and would prefer not to be on a waiting list. 🙂
For ammo too!
I wonder how are the other gun makers doing too?
LCD
We use to be big in the Semi Conductor Capital Equipment market. Same kind of deal. All or nothing. Those markets suck and are virtually impossible to make a consistent profit in. Over the space of 5 years you’re lucky if you break even. Eventually every gun store around will be selling guns dirt cheap and they’ll be shuttering gun manufacturers.
I hear you on the ammo. I’m still trying to shoot weekly but had to go to my 1911s. I can get 45acp, I can’t get 9.
“If Trump wins in a landslide the gun market will go back into hibernation.”
Maybe not, if Antifa and BLM step up their violence and destruction in response to a Trump win the demand may increase even more than it already has since they started the riot thing a few months ago.
They fully intend to take over the country by any means they can, and I doubt a Trump reelection would do anything but increase their intensity at it.
Maybe I’m wrong, but it doesn’t hurt to be prepared anyway.
” I can get 45acp, I can’t get 9.”
Try reloading for your practice ammo. Save the expensive and hard to find stuff for carry use.
@Brad:”I’m still trying to shoot weekly but had to go to my 1911s. I can get 45acp, I can’t get 9.”
If you don’t have a Dillon for your .45, why? Do I need to send you one? You wouldn’t be the first.
WHEN Trump wins, I think he will have a lot of local Republicans who won also. The people who live in those cities can see that the riots are not “mostly peaceful.”
Lowell
I have two, and an RCBS. I just don’t have any time. I need a progressive. LOL
I just paid .43 cents a round for 1000 in 45 acp. That’s what I use to pay per round for black out. And that’s dealer pricing from LAX.
As of this morning Palmetto State Armory only had two models of AR 15 in stock. I can’t afford either. I hope production picks up soon.
I acquired all I’ll ever need during the Obama years and before. My trigger finger will give out before my ammo does.
Ammo is the thing right now.
We’ve got plenty of guns to go around, really.
Hambone
Being proficient with a firearm is an acquired skill. It’s also perishable. Ya need to shoot man.
Some of us need access to hand grenades, you know, when collateral damage is a plus.
Yaaaaay! Wifely unit wants to take gun lessons! Is life good or what? Most her pals are long time CCPers.
@ Bad Brad
Oh, I shoot plenty. I can shoot all I want and still never have to worry about running low on ammo. To say I have plenty of ammo is an understatement.